Novacea sees IPO pricing below range

SteveGelsi

NEW YORK (MarketWatch) -- Novacea Inc.
NOVC, -11.26%
said Tuesday it expects its initial public offering will price at $6.50 a share, below the estimated price range of $11-$13 a share. The cancer drug developer kept the size of the deal at 6.25 million shares. The IPO will raise about $41 million with underwriters Bear Stearns, Cowen and Company, Pacific Growth Equities and HSBC.

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